Pandora acquires 'key assets' from Rdio, will launch on-demand streaming in 2016<article>
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<p>The streaming music industry is about to lose a player and gain a platform. On Monday,
Pandora announced plans
to acquire “key assets” from on-demand streaming service Rdio, which is seeking bankruptcy protection and will wind down its current business.</p><p>The deal, for $75 million in cash, covers Rdio’s technology and intellecutal property, and Pandora says it will be offering jobs to many members of Rdio’s team. Pandora isn’t buying Rdio’s entire business for a couple of reasons: First, to launch an on-demand streaming service like Spotify or Apple Music, Pandora will have to make its own licensing deals with the record labels, because Rdio’s deals aren’t transferable. Second, Pandora executives explained in a Monday conference call that Rdio is financially “challenged,” and would have been a drain on Pandora.</p><p class="jumpTag"><a href="/article/3005552/streaming-media/pandora-acquires-key-assets-from-rdio-will-launch-on-demand-streaming-in-2016.html#jump">To read this article in full or to leave a comment, please click here[/url]</p></section></article>
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Pandora acquires 'key assets' from Rdio, will launch on-demand streaming in 2016
